Conoil, 10 others suspended from trading on the NSE
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
The Nigerian Stock Exchange (NSE), Tuesday 2, July suspended trading on the stocks of Conoil and ten other companies. As a result, dealing members of the exchange will be unable to buy or sell equities of the underlisted companies:
- Conoil Plc
- FTN Cocoa Processors Plc
- Goldlink Insurance Plc
- Guinea Insurance Plc
- Lasaco Assurance Plc
- Niger Insurance Plc
- R.T. Briscoe (Nigeria) Plc
- Resort Savings & Loans Plc
- Royal Exchange Plc
- Standard Alliance Insurance Plc
- Universal Insurance Plc
Godstime Iwenekhai, NSE’s head of listings regulation department, said these companies were suspended for flouting the NSE’s Rule 3.1. Which provides certain actions for when an issuer fails to file relevant accounts by the expiration of the Cure Period.
According to the rules, the Exchange said it will lift the suspension of the above listed companies when relevant accounts have been submitted.
Read Also: Trading in shares of 6 firms suspended by Nigerian Stock Exchange